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Hilton Worldwide has announced that the Blackstone Group, which currently holds 57% of its shares, is to offer a secondary offering of shares.
It is believed that the Blackstone Group wants to reduce its stake in Hilton worldwide by 14%.
Blackstone aims to sell 90 million of the company’s shares at $25 (£15.82) per share, raising around $2.27bn (£1.42bn).
The underwriters will have a 30-day option to purchase up to an additional 13.5 million shares of stock.The offering is expected to close on November 6, 2014.
Hilton Worldwide went public in December 2013, when its initial public offering raised around $2.35bn (£1.47bn).
